What to know before you sign a contract with a buyer’s agent?
Get your home-buying journey off on the right foot by knowing what to look out for when signing a contract with your realtor.
Buying a new home is an exciting—and potentially nerve-wracking— process. If you’re using a buyer's agent, you may be faced with the decision of whether or not to sign a type of real estate contract called a “buyer-broker agreement.” This is a contract between you (the buyer) and a real estate agent (the broker) who will act on your behalf to help you find the perfect home. However, there are some things you should know before signing on the dotted line.
Top 3 things to know before signing a contract with a buyer’s agent.
Buyer’s agents are your representative in the home-buying process. Before entering into a contract with a buyer's agent, you want to read the agreement carefully, consider your agent's background, and know a few things about the relevant laws in your area.
Here are the three most important things to know before signing:
- Not all states or brokerages require a buyer-broker contract. If your state requires it, you’ll have to sign one, but you may have an option not to sign depending on the state or brokerage you work with.
- Signing with a buyer's agent may limit your choices. If you do sign with a buyer's agent, you may be limited to only properties or areas that their brokerage knows best. Also, you may not be able to sign with a new agent if your current relationship goes south.
- A buyer’s agent can either help or hurt the process. Just like a talent agent, when depending on the skill and dedication of your buyer's agent, you may get more opportunities and stellar assistance, or you may be left asking yourself, "What exactly am I paying you for?"
Thankfully, the decision to sign the contract is far more difficult than the signing itself. Get contracts and other documents digitally signed in a snap using e-signatures with Acrobat Pro with e-sign.